In brief
India is poised to revolutionize the weight-loss drug market following the expiration of the patent on semaglutide, the active ingredient in Novo Nordisk's highly sought-after drugs, Wegovy and Ozempic. The introduction of affordable generics is expected to drastically reduce treatment costs, enhance accessibility, and stimulate competition among pharmaceutical companies. Experts predict a major surge in market size, potentially generating billions in domestic sales and exports, while emphasizing the need for regulation to maintain drug quality amidst rising demand.
India could soon get a lot thinner - at least in theory.On Friday, the patent on semaglutide, the molecule behind Danish drugmaker Novo Nordisk's blockbuster weight-loss drugs, Wegovy and Ozempic, expires in the country. This will allow domestic pharmaceutical companies to release cheaper copies or generics, triggering a rush of competition and potentially slashing prices by more than half, greatly expanding access for people in India, and eventually in other countries.Investment bank Jefferies has called it a potential magic-pill moment for India, predicting the semaglutide market could eventually reach $1bn domestically with the right pricing and uptake.Around 50 branded semaglutide generics are expected to hit the market within months, mirroring the swift competition seen in the past when similar drugs went off patent. Currently, India's pharmaceutical industry, valued at about $60bn, is predicted to double by 2030, and its strength in generics positions it well for this emerging opportunity.The shift in availability from costly options, primarily serving affluent patients, to affordable alternatives could reshape the healthcare landscape in India, enhancing treatment for millions suffering from obesity and diabetes. With more than 77 million individuals with type-2 diabetes in India and rising obesity rates linked to urban lifestyles, this development could be a game changer. However, as enthusiasm grows, healthcare professionals warn of the need for rigorous quality control and responsible use amidst fears of potential misuse as access broadens.
